Dike Onwuamaeze
The Executive Chairman of Financial Reporting Council of Nigeria (FRC) Dr. Rabiu Olowo, along with the members of the National Organising Committee (NOC) of the National Corporate Governance Summit (NCGS), has declared that the success of the ongoing economic reforms is largely dependent on the quality of governance underpinning decisions at both our public/private sector organisations.
According to them, investors today are increasingly attracted not only by market opportunities but by the quality of a country’s governance systems that protect investments.
Olowo stated this in Lagos at a press conference on the oncoming 3rd National Corporate Governance Summit 2026 that is scheduled for July 21and 22, 2026, at the Oriental Hotel, Victoria Island, Lagos, which would be attended by Vice President Kashim Shettima as the guest of honour.
The theme of this conference is “Implementing Good Governance for Economic Acceleration: Consolidating Public/Private Sector Partnership.”
He said: “While significant reforms are ongoing to reposition the economy, their success will largely depend on the quality of governance underpinning decisions at both our public/private sector organisations.”
According to him, the third NCGS is expected to deliver tangible outcomes that would shape governance practice in Nigeria.
“The summit will generate practical recommendations to strengthen governance implementation across public- and private-sector institutions.
“It will deepen collaboration among policymakers, regulators and the business community and promote policy dialogue that supports sustainable economic growth,” he said.
Olowo said it has been recognised that economic acceleration cannot be achieved by government alone nor can the private sector realise its full potential without effective public institutions.
Therefore, “sustainable development requires trust, collaboration, policy consistency, institutional integrity, and governance systems that inspire confidence among citizens, investors, and development partners alike.
“In addition, the summit’s sub-themes will examine how governance frameworks can boost State Owned Enterprises, enhance board oversight of AI and digital transformation, strengthen governance in financial institutions to promote financial inclusion, reinforce Nigeria’s mining governance to unlock exports, and meet governance expectations for a robust credit economy,” he said.
In her remarks during the conference, the President of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Mrs. Uto Ukpanah, said that the realities of Nigerian economy demand urgent and collective action because the country is standing at a critical point in its development journey.
Ukpanah said: “As we pursue economic reforms, infrastructure development, financial inclusion, digital transformation, and sustainable growth, the need for governance excellence has never been greater.
“Investors today are increasingly attracted not only by market opportunities but by the quality of governance systems that protect investments, ensure transparency, and promote predictability.
“Likewise, citizens expect institutions that are responsive, accountable, and capable of delivering public value. Good governance, therefore, is no longer a compliance exercise.
“It is a strategic economic imperative. It is the engine that drives investment, competitiveness, innovation, and long-term prosperity.”
Delivering the welcome address, the Chairman, Board of Governors, CIoD Centre for Corporate Governance, Mr. U. K. Eke, said that Nigeria seeks to attain a $1 trillion economy, one of the things that investors, whether foreign or local will like to see embedded in our system is strong corporate governance because “financial reports are okay but are not sufficient.”
